TD Asset Management Inc Has $71.12 Million Stock Position in Cintas Corporation $CTAS

Key Points

• TD Asset Management cut its Cintas stake by 10.2% in the fourth quarter, but still held 378,129 shares valued at about $71.1 million.
• Cintas reported solid quarterly results, with earnings of $1.24 per share matching estimates and revenue of $2.84 billion topping expectations; revenue rose 8.9% year over year.
• The company also declared a quarterly dividend of $0.45 per share, while analysts currently have a consensus rating of Hold with an average price target of $215.17.

TD Asset Management Inc decreased its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 10.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 378,129 shares of the business services provider's stock after selling 42,851 shares during the period. TD Asset Management Inc owned about 0.09% of Cintas worth $71,115,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of CTAS. Brighton Jones LLC boosted its position in Cintas by 9.3% during the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock worth $232,000 after acquiring an additional 108 shares during the last quarter. Sivia Capital Partners LLC boosted its position in Cintas by 42.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider's stock worth $321,000 after acquiring an additional 428 shares during the last quarter. Gamco Investors INC. ET AL acquired a new position in Cintas during the 2nd quarter worth approximately $625,000. Treasurer of the State of North Carolina boosted its position in Cintas by 20.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider's stock worth $47,291,000 after acquiring an additional 35,781 shares during the last quarter. Finally, Ieq Capital LLC boosted its position in Cintas by 50.2% during the 2nd quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider's stock worth $20,710,000 after acquiring an additional 31,068 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Insiders Place Their Bets

In related news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the sale, the director owned 22,448 shares in the company, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 14.90% of the company's stock.

Cintas Trading Down 0.1%

Shares of Cintas stock opened at $179.85 on Friday. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $229.24. The stock has a market cap of $71.96 billion, a P/E ratio of 50.81, a P/E/G ratio of 2.86 and a beta of 0.94. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The business's 50 day moving average is $172.59 and its 200-day moving average is $184.49.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, meeting analysts' consensus estimates of $1.24. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The business had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.82 billion. During the same quarter in the prior year, the business earned $1.13 EPS. The firm's revenue for the quarter was up 8.9% on a year-over-year basis. Equities research analysts predict that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, May 15th. Cintas's dividend payout ratio is 50.85%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CTAS shares. Bank of America began coverage on Cintas in a research report on Tuesday, February 17th. They set a "neutral" rating and a $215.00 price target for the company. Robert W. Baird upgraded Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 price objective on the stock in a research note on Wednesday, March 11th. UBS Group reiterated a "buy" rating on shares of Cintas in a research note on Thursday, March 12th. Citigroup dropped their price objective on Cintas from $181.00 to $160.00 and set a "sell" rating on the stock in a research note on Tuesday, March 31st. Finally, Weiss Ratings cut Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $215.17.

About Cintas

Cintas Corporation NASDAQ: CTAS is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.

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